Business News June 2012

VOLUME 27, NUMBER 6, 0834-2012 JUNE, 2012

IN THIS ISSUE:•Federal budget

•Mining 101•Insurance risks

Brought to you by theWorkplace Health, Safety and Compensation Commission

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B U S I N E S S P A R K

Business News is a monthly publication of the St. John’s Board of Trade.

Reproduction of any material contained in Business News is permitted provided written approval from the St. John’s Board of Trade.

Articles and criticisms are invited, but opinions expressed by contributors do not necessarily represent those of the St. John’s Board of Trade. We encourage you to support the business leaders whose names and products you see advertised in this issue as well as throughout our entire membership. The Board reserves the right to edit submissions.

Editor: Alisha MorriseyPrinted by: British Group of CompaniesLayout: Roxanne Abbott ST. JOHN’S BOARD OF TRADE EXECUTIVE

Steve Power ChairDenis Mahoney Senior Vice-ChairSharon Horan First Vice-ChairKim Keating Second Vice-ChairJo Mark Zurel Immediate Past ChairPaul Janes Secretary-Treasurer

BOARD OF DIRECTORS

Dallas MercerAndrea BrocklehurstWayne BruceHeather Bruce-VeitchLynn SullivanKaren McCarthyDorothy KeatingDes Whelan

STAFF

Nancy Healey ChiefExecutiveOfficerJennifer Chaytor Manager of Finance and ComplianceLori Coleman Business Affairs ManagerMargie Davis Sales ManagerAlisha Morrissey Policy Research AnalystCraig Ennis Vice President of Policy and CommunicationsWanda Palmer Events Marketer & Administrative CoordinatorJackie Bryant-Cumby Member Relations Administrator

St. John’s Board of Trade34 Harvey RoadP.O. Box 5127St. John’s, NL A1C 5V5 CanadaTel: (709) 726-2961 Fax: (709) 726-2003E-mail: [email protected]: www.bot.nf.ca

IN THIS ISSUEContents

Business News

COVER STORY 2CHAIR’S MESSAGE 3FEATURES 4KEEPING CURRENT 8MEMBERSHIP 21

June 2012 1

Cover Story

Business NewsJune 20122

bEcomE a back proTEcTIoN agENT “IT’S THE oNly back yoU’vE goT”The Workplace Health, Safety and compensation commission (the commis-sion) is inviting every worker and employer in the province to become back protection agents and help prevent back injuries in the workplace.

A new marketing and advertising campaign aimed at preventing back injuries features new print,

radio and television ads reminding viewers to keep backs healthy. Employers and workers should ensure workstations are set up properly, using proper lifting tech-niques, avoiding lifting heavy objects and using tools for lifting when appropriate, such as lifts, carts or dollies. Anyone can become a Back Protection Agent by helping ensure these safe practices are followed in the workplace, or simply by asking for help if a lift or other task seems likely to overstrain the back. “In 2011, more than 1,000 people experienced lost time from work because of back injuries,” said Commission Chief ExecutiveOfficerLeslieGalway.“Theexciting thing is that back injuries can be prevented in many ways. Learning safe work techniques focused at protecting your back is key. Our campaign is aimed at showing how several of our province’s workers have developed effective back protection practices.” Back injuries account for more than 25 per cent of all lost-time injuries in the workplace in Newfoundland and Labrador. Overexertion, particularly of the back, is the most common type of workplace accident. Neil Hiscock, a Fire Equipment Techni-cian with the St. John’s Regional Fire Department, is a Back Protection Agent who took the initiative to ensure the safety of himself and his co-workers. He’s also

featured in the print advertising component of the Commission’s Back Protection campaign. This is what Mr. Hiscock says about keeping backs safe: 1. Why are you proud to be called a Back Protection Agent? I am proud to be called a Back Protec-tion Agent because I take great pleasure in knowing that I may have helped in preventing possible back injuries for myself and my co-workers. 2. What have you done or suggested at your workplace that is assisting in back protection? Back protection is a very serious concern, and if not done properly can cause serious injury with long-term implications. The workplace needs to take back protection seriously and provide employees with as much information as possible to avoid any injuries. From past experience, I feel that researching any heavy lifting task is very beneficial,andnecessaryto alleviate any foresee-able injuries. As a Fire Equipment Technician I have taken part in annual fireequipmenttestingsuch as hoses, ladders and breathing apparatus, to name a few. The ladder testing, by far, has been the most strenuous. I have participated in the testing of ladders the old way. By the old way, I mean lifting 50-pound sand bags, totalling 1,000 pounds per ladder. I knew there had to be a better way. So I did some researchtofindamoreefficientandergonomicway of doing the same test in less time and with less strain on the body. Research helped me source the ladder

testing equipment, now being used by the St. John’s Regional Fire Department. This equipment has not only prevented injury to my back, but has led me to be more interested in performing the task. The equipment also helps us to be more productive and get more done in a shorter amount of time. 3. What advice do you have for other employers and workers so they too can become back protec-tion agents? The advice that I have for other employers and workers is that you need to research ways to perform tasks in an easier and safer way. Employers also need to listen to their workers, because they are the ones who are doing the work.“Remember you get one chance and one back, so take care of it, it’s the only back you’ve got”.

Chair’s Messagethings that make me nervous

Business News June 2012 3

Chair, Steve Power

What makes me nervous is that we havenÕ t solved these problems yet. they are big problems, no doubt, but we have smart people in government and we have smart people in business and we still havenÕ t found the comprehensive suite of solutions.

When i was growing up, June was often a time of nervous excitement.

Nervous because that’s when final marks for the school year came out and excited because summer

vacation was around the corner. Now, as a father, I am seeing a little of that in my girls. They work hard at school all year and my wife and I pay close attention to their progress and help them out so they don’t fall behind, but that nervousness is still a hard habit to shake. Even if I’m not the one being graded, I still feel a sense of anxiousness that my girls are learning at the pace they should and that it’s showing in their curriculum. On budget day, the Chair of the Board of Trade gets to speak to a number of journalists about what the business community likes and does not like in the multi-billion dollar spending plan the province has just brought down. I’m generally

accustomed to doing interviews now, a few months into my year as Chair, but they still make me nervous. And in 2011, watching my predecessor Jo Mark Zurel, go live on NTV as they did their analysis from the foyer of the House of Assembly, I got really nervous. I knew that would be me, 365 days later. When the province brought down their most recent budget, I went live on NTV and offered the Board’s analysis and I have to say that I got over my nerves...though I’m not sure if I got over them before I did the interview or after. My partners and I have just a little healthy anxiety about our business, like I’m guessing you all do. Will our key staff stay or leave? Is our book of business big enough to keep the bills paid? When we win business and grow will we keep serving all of our clients in the way they have come to expect and deserve? Thankfully, business is good and I work with wonderful people and clients, but I think there’s a little part of me that keeps the ‘what ifs’ not too far in the back of my mind. I think there’s nervousness in public policy right now. I recently met with a group of newer members of the Board of Trade at a breakfast and we had a question and answer session and that’s really the place to see what keeps members up at night. And thankfully there weren’t really any surprises; attracting and retaining skilled employees, reducing our reliance on oil revenues, and finding ways to grow.

What makes me nervous is that we haven’t solved these problems yet. They are big problems, no doubt, but we have smart people in government and we have smart people in business and we still haven’t found the comprehensive suite of solutions. We have done some work and to be honest we need to do more. As much as I’m challenging you, our members, to help us in this work, I am challenging myself to push the envelope further, faster. So let me purposely make myself nervous (people always get nervous when they ask questions that they don’t necessarily know the answers to) and I might even make you nervous too. I want you to tell me some things:

Should we concentrate our efforts into •finding more oil or put those efforts into post-oil?What is the balance of support systems •required to help people working here become more attached to the labour market and the support systems required to integrate newcomers and help them succeed?What do we need to say to our •kids and what do they need to see so that they understand that their Newfoundland and Labrador is not their parents’ Newfoundland and Labrador?Where does the business community •responsibility lie and what does government have to do about labour market issues, economic diversification, and promoting business and entrepreneurship?

Maybe you have your own questions, and maybe the Board of Trade needs to address those too. Tell us, we’re here to help you succeed. Until next time, I wish you well and hope that report card time (and vacation) is an exciting time of year.

Feature


WHaTÕ S aT STakE?The new world of risk.

I’ve often asked business owners what they think it costs them to manage risk. The answer I usually get is “too much.”

Followed by the amount they spend on insurance every year. While property, automobile and health insurance premiums are an important component, our research indicates that for most businesses (of almost any size), commercial insurance premiums only account for 20 to 30 per cent of the total cost of risk in their business.How can this be? Business owners today need to look at risk from a much broader perspective. A recent study by Lloyds of London indicates that three of the top risks facing business today are loss of customers, talent management and reputational risk.Traditional “hazard risks” like fire,windstorm, and water barely made the top 40. If traditional insurance products don’t properly address the new risks in our economy, how can businesses deal with them?CEO’s could easily have their title changed to CRO(Chief Risk Officer) given thepace of change and the amount of risk most business are dealing with. Let’s take a quick look at just a few of the most common risks that businesses have to deal with.

The risk of not having time to run •your business properly. Our studies indicate that the average business leader/manager spends 21 per cent of their time doing what they do best. What is the cost to your company of an entrepreneur being mired in people issues, customer problems and red-tape? I had one client indicate that the cost to his business was $50,000,000. The risk of not having the right people •in the right jobs. Return on human capital is one of the largest challenges facing business. The cost of a bad-hire is four- to six-times annual salary. What systematic processes are in pace to make sure you hire the right people and minimize the costs of high turnover. I spoke to one business owner who told me that turnover was costing him over $250,000 a year, with a staff of 15 people.The risk of not having a Business •Continuity Plan. Fifty per cent of all businesses that are closed for more than one month never fully recover. Carrying Business Interruption Insurance isn’t enough. What proactive plans are in place to communicate with customers, employees, suppliers and media should your business experience an unexpected interruption in operations? Have you identified how quickly you can getcritical business functions back up and running? In dealing with our clients, the smallest number we’ve gotten is $100,000 per week in uninsured costs such as lost productivity, owner distraction, and lost potential sales.

Trying to manage your risk costs only by

managing insurance premiums is not a very effective way to make your business more profitable. Just as business owner may askan investment advisor how to diversify

a portfolio to minimize market risk or interest rate swings, a risk advisor or insurance broker should be working with a business owner to help them understand their total cost of risk and put in proactive processes to help control it. The traditional ways of dealing

with insurance and risk are no longer effective. Businesses need to focus on the 50 to 80 per cent of their total cost of risk that isn’t addressed by insurance policies.

Tom Hickey is president of Wedgewood Insurance and helps corporate clients reduce risk. For more contact Tom at [email protected]

Tom Hickey

An effective insurance broker/An effective insurance broker/An effective insurance broker/risk consultant will help:risk consultant will help:risk consultant will help:

Assess risk areas and Assess risk areas and Assess risk areas and •••quantify the cost to the quantify the cost to the quantify the cost to the businessbusinessbusinessDetermine priorities and Determine priorities and Determine priorities and •••areas of high-, medium- and areas of high-, medium- and areas of high-, medium- and low-risklow-risklow-riskPut in proactive processes Put in proactive processes Put in proactive processes •••to minimize the cost in high to minimize the cost in high to minimize the cost in high priority areaspriority areaspriority areasMeasure results and adjustMeasure results and adjustMeasure results and adjust•••

AGENT

AGENT SINCE

HEROIC TALE

Lisa Janes

AdministeringTLC to the animals

and her back!

Lisa believes in protecting her back.

Some years ago she injured her back

bending down to lift and feed the

animals. Now the kennels have been

elevated and Lisa s back feels

purrfect.

It s raining cats and dogs!’

’

Feature


ambaSSador colUmNchris Sparkes

Since moving back to St. John’s to start a professional career in 2008, I’d heard about the advantages of

being involved in the St. John’s Board of Trade.I was first introduced to theBoard through Atlantic Audio Visual when planning and setting up various events. My eyes were immediately opened to the impact of networking opportunities for the membership and the business community as a whole. Now a sales manager with the Delta Hotel, I’ve joined the Ambassador team. I’ve really gotten an inside look at the commitment the Board of Trade has to its members – and in getting them out to network. I have attended many events since becoming an ambassador; strengthening both my business and personal lives. I

sincerely encourage you as a member to attend as many events as you can. It has been a privilege to be a part of one of the most influential organizations in this cityand province. I look forward to what the future holds for the Board and meeting new friends/members.

Chris SparkesAssociation Sales Manager The Delta St. John’s Hotel and Conference CentrePH: (709) 570-1602FAX: (709) 570-1620Email: [email protected]

CanadaBusinessNL.ca

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Shawn brown

I have been working in sales for my entire professional life so in many ways, the Board of Trade’s Ambassador

programisanaturalfitforme.IjoinedtheBoard this past January as a way to learn even more about the business community and to connect with people who are as passionate as I am about seeing this great city succeed. Oneofthethingsthatfirstdrewmetothe Board of Trade is the important role it plays in promoting an environment where business can start, grow and prosper. As a seasoned business professional, I bring my experience and my little black book of contacts to the table and I enjoy the lively discussions that take place when people from different areas of expertise get together to exchange ideas.

I am very fortunate to work for a companythatseestremendousbenefitinits employees being involved in the places they live. By encouraging me to step up in the community, Bell Aliant supports my belief that outreach – whether it be throughbusiness,non-profitorservicegroups – contributes to healthy, successful communities. I look forward to helping recruit new members to the Board of Trade and also taking part in the many fun and educational activities that take place throughout the year.

Shawn Brown is a sales manager at Bell Aliant in St. John’s.

Keeping Current


polIcy maTTErSMeeting with the Premier Your Chair, Steve Power, senior vice-chair Denis Mahoney, and Nancy Healey, CEO of the Board of Trade, recently had a very productive meeting with Premier Kathy Dunderdale. The premier discussed a number of Board priorities with the delegation, including short-term goals, which focus on labour market, so that we don’t lose out on opportunities, long-term diversificationeffortstosustainaworkingpopulation,andthenotionthatfinancialsustainability will be the only way we can prolong prosperity. Some highlights of the discussion included: Muskrat Falls: The Board supports the professional information gathering process being carried out by Nalcor, and we support an informed debate. If the information shows the project is the least-cost option then it should be sanctioned. Budget2012/fiscalposition:therewerea number of things the Board liked in the Budget, such as aligning spending with inflation,settingadebtgoalandtimeline,the core-program, review and making some labour market improvements like apprenticeship support and a labour-market secretariat. Diversification:Businesshastotakethe risk and make success happen but government has to create an environment conducive to innovation, research and development, commercialization and the

resultantdiversification.Thatprimarilymeans accountability and a systemic approach. Labour market: labour market issues might be the biggest public policy problem rightnowandforthenextfiveto10years.Apprenticeship and a secretariat are starts, but all of government and its considerable resources need to be applied to addressing this short- and long-term problem, and in more areas than just apprenticeship. The potential solutions are many, and the need is both urgent and important.

International trade The federal government has been negotiating a Canada-European Union (EU) trade agreement – considered to be even more ambitious than NAFTA. An agreement could mean growth equivalent to 80,000 new jobs and increasing the average family income by $1,000 across the country. The EU is the world’s largest importer and is Canada’s second-largest trade and investment partner.Free trade is about opportunities. If we are confidentthatourproductsandpeoplearebetter than those coming from the EU, we stand to gain. Formal trade links can ensure that our businesses diversify their markets and are more resilient. Having access to the 27 countries in the EU and their 500 million customers means being able to avoid the problems that come with only one or two markets.

The parking issue The St. John’s Board of Trade spoke on your behalf about proposed parking regulations for the downtown at a recent public meeting at St. John’s City Hall.SharonHoran,yourfirstvice-chairandchair of the municipal affairs committee, was quoted extensively in the media talking about the impacts the proposed

Board Chair Steve Power, Premier Kathy Dunderdale and Board vice-chair Denis Mahoney met to talk about this province’s many challenges and opportunities and of course issues we’ve been pushing to make your business successful.

Keeping Currentpolicy matters


regulations will have on business and future development in the downtown. The Board has been working with the city on the proposed regulations for nearly a year, during which we pointed out the need for a more holistic approach to parking in the downtown, rather than just adding spaces based on floor area of new buildings.Sharon’s speech can be found on our website at www.bot.nf.ca For more on the parking regulations check out www.stjohns.ca

Step in the right direction The St. John’s Board of Trade is applauding the City of St. John’s on its announcement that in future it will prepare three-year budgets with enhanced public participation and long-term capital works planning. Under the new process, each city department will have to provide a business plan to council. The Board supports smart fiscal planning, at all levels of government. Governments

and taxpayers benefit equally from defined and adhered-to processes, rational spending decisions firmly linked to specific priorities, and monitoring, evaluating, and reporting on results.In the past, we have encouraged the city to outline a long-term strategy for prosperity and we are optimistic as a result of council’s decision.

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Federal Budget 2012: Addressing Canada’s Skills Crisis

The issue Our members cite labour and skill shortages as the greatest barrier to their future prosperity. We called on the federal government to tackle this barrier, as well as nine others that make up our list of the Top 10 Barriers to Competitiveness. We urged the government to take measures to ensure a robust pool of labour going forward by creating opportunities for the underutilized segments of the population, such as older workers, youth, Aboriginal peoples, the disabled and new immigrants. The government responded by laying out a plan of action in its 2012 budget. What we got for you

The government is committed to supporting opportunities for under-represented groups. The budget provides $50 million over two years to the Youth Employment Strategy to assist more young people in gaining tangible skills and experience. It grants $30 million over three years to improve labour market opportunities for Canadians with disabilities, and it also provides $6 million over three years to extend and expand the ThirdQuarter Project—a project led by the Manitoba Chambers of Commerce to help employers find experienced workers who are over the age of 50.

Approximately $275 million over three years is targeted to support First Nations education to build and renovate schools on reserve. The budget commits the government to introduce legislation and explore new funding mechanisms for First Nations elementary and secondary education.

The government will invest $205 million to extend the temporary Hiring Credit for Small Business for one year. This credit provides up to $1,000 against a small business employer’s increase in its 2012 Employment Insurance (EI) premiums over those paid in 2011. This credit will assist small businesses in hiring new workers so they can take advantage of emerging opportunities and better compete in the global marketplace.

The government is also committed to transitioning to a faster and more flexible economic immigration system. The budget proposes to better align the Temporary Foreign Worker Program with labour market demands and to ensure that businesses look to the domestic labour force before accessing the Temporary Foreign Worker Program. The government also signalled its intention to support further improvements to foreign credential recognition and to work with provinces and territories to identify the next set of target occupations for inclusion, beyond 2012, under the Pan-Canadian Framework for the Assessment and Recognition of Foreign Qualifications.

FeatureSmarTEr aboUT HEalTH carE


Is becoming a wise consumer the answer to managing health care costs?

As companies struggle to contain health plan costs, it is becoming increasingly important to

encourage plan members to become wise health-care consumers. Over the past two decades health care costs in Canada have steadily increased putting the sustainability and affordability of the health care system into question. One of the driving factors is the rise in the cost and use of prescription drugs. Spending on pharmaceuticals has consistently remained one of the major components of total health expenditures, second only to hospital visits. It’s a trend that’s having a serious impact on employersandtheirbenefitplans. According to the Canadian Institute for Health Information, Canadian companies spend about $200 million per week on prescription drugs, which translates into an estimated $10.2 billion annually. As drug prices rise, the pressure on private health plans will become untenable. As new – and incredibly expensive – drugs enter the marketplace, pressure will mount even faster. So what is an employer to do when facing mounting plan costs while managing the day-to-day pressure of uncertain economic times? The answer – to recognize everyone has a role to play in containing costs.

Who pays? While they may not see it at the cash register, employees eventually pay increasing drug costs. Many people with coverage through their employers don’t

think about the price of their medication. To them, price is of little concern because they contribute a co-pay and their plan pays the balance for their drugs. However, these employees may not realize this behaviour impacts plan costs. For most large employers, insurance companiesmanagetheirbenefits,buttheemployer pays the cost of the claims. If drug costs rise dramatically, the result is increasing costs and often increasing premiums paid by employees.

Becoming a wise health care consumer Today, consumers have access to information that allows them to make informed buying decisions. Prescription medications shouldn’t be any different. Information gives consumers greater control over decisions affecting their health care and, ultimately, their health. Being awiseconsumerisn’taboutsacrificing

quality of care for the lowest price, it’s about being educated to make appropriate purchasing decisions. An essential ingredient for motivating group plan members to become wise health care consumers is educating them about the impact of their choices. This includes understanding how their plan is structured and recognizing how their choices impact the plan and their pocketbook. In many instances, all that is needed is a better understanding of the impact their

choices can make. For example, many group plan members may not be aware thatprescriptiondrugcostsfluctuatebetween pharmacies.

Plan design One way plan sponsors can encourage employees to be better health-care consumers is by looking at their plan design. Options such as percentage-based co-pay can put the onus on members to compare pharmacy prices against the services the pharmacy provides. Other options, like a formulary where the amount the member pays depends on which drug tier option they and their doctor choose, give the member control over their out-of-pocket expenses and the cost to their plan.

So what tools are out there? Medavie Blue Cross recently launched the Pharmacy Value Finder website in Atlantic Canada. This website was developed exclusively for its plan members who can now compare prescription drug costs and a pharmacy’s value-added services in their area. By learning about the prices and

services offered by local pharmacies, as well as options such as generic formulations, over-the-counter treatments and lifestyle changes, members can become better advocates for their own health.

Shelley Kee, vice-president Group Business (Atlantic) for Medavie Blue Cross promotes being a wise consumer with the company’s new Pharmacy Value Finder website.

Feature


#dIvErSIFIcaTIoN‘What can we build on?’

Cathy Bennett says whether you’re making hamburgers or widgets, business is business.

“If you can run one business successfully, you can run any business successfully,” she says. Bennett, who built a McDonald’s empire in this province, has recently launched the Bennett Group of Companies and Diamond Global, an international recruiting agency, not only to expand her business, but also to diversify into other industries. “I saw growth potential,” she simply responds when talking about her newest company, Diamond Global. And with this province facing a severe labour crunch in the coming years, she’s probably right. Bennett talks about the synergies that exist within the operations of any business, pointing out that triumph is when you realize how to add value to the product. “What can we build on?” she says she’s always asking herself. “Try something outside the comfort zone.”Bennettsaysshealsodiversifiedaspartof her need to have more control over how her business will grow. McDonald’s

is a global company that has enabled her to grow her entrepreneurial skills to take advantage of new opportunities. A former president of the St. John’s Board of Trade, Bennett says her experiences with the membership and policy related discussions around the Board table offered

her a broader view of the business world and she realized there was more opportu-nity in this province. Bennett offers advice on how to diversify into other businesses, suggesting that entre-preneurs here need to have a long-term vision. They must understand that happen-stance will have an effect on what sectors they enter into, and that owner/operators must choose carefully what other industries to expand in, with the knowledge that they can say no to some opportunities that don’t feellikeagoodfit. She offers the same advice to the provin-cial government, pointing out that natural resources will provide building blocks to a good economy, but that capacity building will be the long-term determining factor in a sustainable, thriving economy.“You had 10 per cent sales growth this year,” she says. “That’s not good enough. Why not try for more?”

Join our #diversification conversation online on our members only LinkedIn group or follow us for more #diversifica-tion related stories on Twitter @stjohnsbot. As well, watch for more #diversification stories from our membership in the coming editions of Business News.

Cathy Bennett

FACT:

All workers crave respect, regardless

of generation.

DID YOU KNOW

TIPS A Multi-Generational Workforce

To acquire the necessary skills to ensure success, employers are being empowered to attract, retain and develop multi-generational talent. Working

side-by-side are traditionalists, employees who are of the so-called Silent Generation (1925-1945), Baby Boomers (1946-1964), Generation X (1965-1980), and

Generation Y, also known as the Millennials (1981-2001). The generation after 1995 is being coined by many as a fifth generation known as the Linkster Generation. Generations find their common ground in five core areas:

1. Meaningful work 2. Collaboration 3. Learning 4. Technology 5. Flexibility

Avoid the trap of stereotyping your employees:

Set the tone for a respectful culture in the workplace

To ensure all these generations work well together, know what makes each generation tick. Understand what each generation values and what motivates them at work and at play.

Continually develop your team in terms of understanding of each others’ values, tendencies and preferred working styles.

Consider Two-Way Mentoring! If your organization consists of both Traditionalists and Generation Y, then consider two-way mentoring. It can be an opportunity for your Generation Y employees to provide training to your Traditionalists in technology, while the Traditionalists will most certainly share with your Generation Y people some great information and stories about your organizational culture, including their years of invaluable work

experience. Providing such an opportunity will clearly demonstrate you respect Gen Y, and allow Traditionalists to pursue new learning opportunities. These two cohort groups have

been known to work quite well together, and your business will reap the benefits of increased employee engagement and reduced turnover. Source: The WorkBC Employers Toolkit – Booklet 1: How to Attract, Retain and Engage Employee @ British Columbia

A Multi-Generational Workforce: How to cope

STRATEGIES TO CONSIDER

Traditionalists: ◊ Strong work ethic ◊ Experienced ◊ Disciplined ◊ Stable ◊ May be reluctant to speak up ◊ Avoid conflict

◊ Be prepared to be flexible in work arrangements and working hours ◊ Provide recognition for their contributions ◊ Show respect for their inputs, knowledge and experience ◊ Provide freedom and flexibility for them to do their work. Avoid micromanaging them ◊ Provide clear and direct communications ◊ Continue to offer development opportunities ◊ Use them as mentors to transfer knowledge and experience to younger generations ◊ Be coachable. Tap into their experience

Baby Boomers: ◊ Dedicated and hard working ◊ Good team players ◊ Respect for authority and hierarchal structure ◊ Experienced

◊ Provide challenging and varied work assignments ◊ Be prepared to be flexible to allow them to balance family and work responsibilities ◊ Provide recognition for their contributions ◊ Show respect for their inputs, knowledge and experience ◊ Use them as mentors to transfer knowledge and experience to younger generations ◊ Be coachable. Tap into their experience

Generation X: ◊ Ambitious ◊ Adaptable ◊ Technologically literate ◊ Independent and likes autonomy

◊ Be approachable, encourage ideas ◊ Provide challenging and varied work ◊ Use performance-based rewards and promotion ◊ Take time to be personal and acknowledge them individually for their contributions ◊ Involve them in decision making ◊ Offer professional development opportunities ◊ Help them see how their contributions achieve the organization’s goals ◊ Provide mentorship ◊ Provide clear direction and support ◊ Provide regular feedback

Generation Y: ◊ Good at multi-tasking ◊ Technologically savvy ◊ Confident ◊ Short attention span ◊ Global world-view ◊ Achievement-oriented ◊ Likes to have fun at work

◊ Involve them in decision making ◊ Provide mentorship, coaching and advice ◊ Show willingness to embrace and consider their ideas ◊ Provide a fun, employee-centered workplace ◊ Be flexible – find ways to allow them to pursue the activities they enjoy (e.g. unpaid leave to travel) ◊ Provide stimulation through a variety of roles ◊ Set ground rules early, particularly around social networking and technology usage ◊ Provide clear direction, support and regular feedback

Source: Adapted from Managing Workplace Diversity – A Toolkit for Organizations: A Managers Guide to Creating Inclusive and Harmonious Workplaces: Managing Across Generations @ http://www.mom.gov.sg/Documents/employment-practices/WDM/Workplace%20Diversity%20Management%20Tookit%20and%20Manager's%20Guide.pdf

Keeping Current


aroUNd THE board

Steve Power is interviewed after the 2012 Provincial Budget lock-in. “We believe this is a fair budget that sets the course for long-term sustainability.”

Steve Power appeared on NTV’s post-Budget 2012 broadcast talking about your issues and how they relate to this year’s budget.

Finance Minister Tom Marshall spoke at a breakfast at the Bella Vista days after the budget, explaining to our members how this year’s budget will relate to the membership.

Gary Follett, another past president was awarded his pin at breakfast. Follett was president of the Board of Trade in 2000. The pin is thanks and recognition of service to the organization.

Roger Flood was presented with his past presidents pin at our luncheon with the Mining Association of Canada. Flood was president in 1995 and worked – unsurprisingly and tirelessly – on transportation issues.

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Keeping CurrentaroUNd THE board


Noreen Golfman, founder of the Interna-tional Women’s Film Festival, was on hand to greet our members to the new location of the Christina Parker Gallery, where we took in the art, great food, provided by Hungry Heart, and a glass of wine to tee up the launch of the festival this fall.

Bruce Templeton and Kelly Sandoval chat in front of some of the amazing work at the Christina Parker Gallery.

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Keeping Current


aroUNd THE board

Chair Steve Power chats with Shred Guard’s sales manager Kevin Perry and Sunlife’s Kirk Newhook about the incredibly good food, generously sponsored by Uptown.

Mmmmm-ashed potato martinis were a huge hit with the Board of Trade crowd.

Kevin Perry and Randy Murphy announced that Shred Guard and Uptown will hold this mixer annually to welcome spring.

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The Canadian and global Mining Scene

Newfoundland and Labrador’s mining operations make up about 10 per cent of the country’s mining

production, the value of which is expected to reach $5.7 billion this year. As mining becomes a clear opportunity for investment and opportunity, the St. John’s Board of Trade and event sponsor Rio Tinto, recently hosted Pierre Gratton, president and CEO of The Mining Asso-ciation of Canada. Gratton, along with his team and the Mining Industry of Newfoundland and Labrador, provided insight into the industry locally, nationally and globally and outlined opportunities and challenges we’ll see in the near future. Here is a wrap up of facts and figures from Gratton’s speech:

On the homefront:There are currently eight mines in • production in the province, two more are under construction. Mining is second only to oil in this • economy, representing 8.6 per cent of the province’s GDP. The Vale hydromet nickel plans will • result in $3.6 billion in capital costs – the largest metals project underway in the country.

Exploration investment in this • province is forecast to hit $234 million in 2012 – up from $172 million last year – thanks in part to increased interest in iron ore mining in Labrador.

The national picture:In 2010, mining accounted for 21 per • cent of Canada’s goods exports.The mining industry has plans to • invest more than $140 billion in projects in the next decade.The industry contributed $36 billion to • Canada’s GDP in 2010 – most of that ($28 billion) in processing and manu-facturing. Add to that the $8.4 billion in taxes and royalties paid to Canadian governments that year.Mining is the largest private employer • of aboriginal people in Canada.More than 300,000 people work in the • mining sector and the average weekly wage for mining workers in 2010 was $1,632 – higher than workers in forestry, manufacturing, finance and construction.Canada has 220 producing mines and • 33 smelters and refineries.More than 100,000 workers will • be needed in the sector in the next decade.

Women now make up 14 per cent of • the industry, where they previously were only about two per cent of the mining sector.

The world’s stage:Canada is the world’s second-largest • mining supply sector after the United States, with about 3,215 suppliers in the Canadian industry.China is the world’s driver of mineral • prices, with nearly 30 consecutive years of between eight and 15 per cent growth per year. Today, China consumes 30 per cent of the world’s base metals.China is seeing huge increases in the • desire for cars, personal computers, etc, which all require metals and mining to meet demand.Skyrocketing mineral prices have • helped the mining industry. Iron ore prices are up more than 1,000 per cent since 2000. In the same time frame uranium prices are up 518 per cent and gold prices are up nearly 500 per cent.India will be the next driver of mining • activities as it follows China as a developing nation. However, export barriers in China and India will constrain supply in the future.

Pierre Gratton, president and CEO of The Mining Association of Canada, spoke at a recent luncheon at the Comfort Inn, about the challenges and opportunities in the mining industry.

Keeping Current


aroUNd THE board

Steve Power and some of our Board met with the Ambassador of the Philippines to talk labour market strategy and Newfoundland and Labrador mega projects.

Our Board, along with Chair Steve Power also met with the Ambassador of Finland Risto Piipponen, on your behalf to discuss business opportunities here and there.

We launched Board of Trade Week with a casual, interactive breakfast session with Board Chair Steve Power. For more from Board of Trade Week, see our next edition.

Coreen Bennett, with Diamond Global, had a rapt audience as she talked about the potential for temporary foreign work, internationalstaffingandrecruitment.

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Varel Rock Bits Canada Booth: 1426 www.varelintl.com Edmonton, Alberta, Canada T. (780) 435-5706 Varel is the largest independent and fastest growing drill bit company in the world. Our proprietary design capabilities, lean manufacturing and global sales force deliver a comprehensive line of roller cone and PDC bits resulting in excellent performance and value. Please come visit us at our booth.

Wearwell Garments Ltd. Booth: 1524 www.wearwellgarments.com Stellarton, Nova Scotia, Canada T. (902) 752-4190 WearWell Garments Limited is a full-line Canadian clothing manufacturer and distributor. Our Geliget Gear brand features a complete line of f lame resistant clothing for various high risk industries. We also offer customized designs and ref lective tape options to meet all your needs.

WEG Motors & Drives / V.J. PamenskyCanada Inc.Booth: 1427 www.pamensky.com Toronto, Ontario, Canada T. (416) 781-7575 WEG Motors & Drives/V.J. Pamensky Canada Inc. is one of Canada’s largest suppliers of electric motors and industrial electric products. Low and high voltage electric motors, variable frequency drives, soft starters, generators power transformers and industrial control products. Please visit our booth to see products specifically suited for offshore applications.

WIKA Instruments Canada Ltd.Booth: 1523 www.wika.ca Oakville, Ontario, Canada T. (780) 463-7035 WIKA, a family-run company founded in 1946, is world market leader in pressure, temperature, and level measurement instrumentation. Today, WIKA’s worldwide network employs more than 6,500 highly qualified and motivated professionals with immense know-how and technical proficiency. This is supplemented by our commitment to customer service and quality management.

MembershipmEmbEr NEWS


Memorial business policy nets $2 million boost A Memorial University program helping Canadian Forces personnel get started in business has resulted in a number of awards – most recently a $2 million endorsement from the Prince of Wales. Prince Charles’s Canadian charity will now make the Students In Free Enterprise (SIFE) Memorial’s Based in Business program available throughout Canada. Prince Charles announced the three-year pilot project – branded The Prince’s Operation Entrepreneur – during a visit to Canadian Forces Base Gagetown in Oromocto, N.B. Based in Business was launched in 2009 and offers upfront assistance, mentoring and ongoing support as military personnel transition into civilian life.

Greasing the wheels of charity United Way and two of this province’s oil players raised more than $250,000 last year for United Way programs in this province. Combined with other fundraising efforts ExxonMobil Canada/Imperial Oil’s United Way campaign raised nearly $4.2 million for United Way-Centraide in Canada. The overall 2011 Imperial Oil/ExxonMobil Canada United Way campaign was one of the most successful in the companies’ history, beating funds raised in the 2010 campaign. Nearly 1,000 employees and retirees participated as volunteers in Day of Caring activities.

Congratulations The Ramada St. John’s is the proud recipient of the “Best of 2012” Award by Ramada Worldwide. The award – which recognizes outstanding performance in customer service, revenue generation, and overall quality – ranks St. John’s as one of the best of Ramada’s 900 hotel portfolio. It is the second time the St. John’s location has received the award in the past three years. The Ramada St. John’s is a 79-room hotelofferingarestaurant,fitnesscenter,meeting space, business services, and free airport shuttle.

Nalcor Energy employees lend a helping hand During National Volunteer Week, more than 200 Nalcor Energy and Newfoundland and Labrador Hydro employees participated in the second annual Acts of Kindness week to give back to their communities. Groups of workers went into the community to serve breakfast with the Kids Eat Smart Foundation, to build wheelchair accessible picnic tables for Easter Seals, entertaining residents at seniors’ complexes and hanging out with kids and dogs through both Beagle Paws and the Boy’s and Girl’s Clubs. Visit ouractsofkindness.ca to share Acts of Kindness stories and a chance to win an iPod Nano.

Award-winning work The Craft Council of Newfoundland and Labrador has won a prestigious award for its work preserving heritage. The Manning Award for Excellence in the Public Presentation of Historic Places is presented by the Historic Sites Association and handed out to four heritage champions each year. Operating out of Devon House Craft Centre, a registered heritage structure, the CraftCouncilofferstheonlypublicfinecraft gallery in the province, a clay studio with educational programming and a large retail shop. This is the third award received by the Craft Council in 2012. Executive director Anne Manuel was named Industry Leader by the 2012 Atlantic Canada Craft Awards for Excellence and the Craft Council received the Cultural Tourism Award from Hospitality Newfoundland and Labrador. This year is also the 40th anniversary of the Craft Council. Congratulations.

Welcome back KPMG has returned to St. John’s and has openedanofficeinTDPlaceonWaterStreet. Theaudit,taxandadvisoryfirmiscapitalizing on the booming economy in Newfoundland and Labrador and hopes to advise local and multinational companies

on the growth in economic activity here. KPMG veterans Gail Hamilton and Kevin Sullivan will lead the local team of business consultants, though the company has also begun a recruiting campaign to findlocaltalentandthosefromawaywithknowledge about this province’s economy.

Membership


mEmbEr NEWS

Winners from this province were:Winners from this province were:Winners from this province were:• Paul Antle, president and CEO of • Paul Antle, president and CEO of • Paul Antle, president and CEO of Pluto Investments;Pluto Investments;Pluto Investments;• Cathy Bennett, CEO, Bennett Group • Cathy Bennett, CEO, Bennett Group • Cathy Bennett, CEO, Bennett Group of Companies;of Companies;of Companies;• Ken Bennett, president of The • Ken Bennett, president of The • Ken Bennett, president of The Johnson CorporationJohnson CorporationJohnson Corporation• Frank Coleman, president and CEO • Frank Coleman, president and CEO • Frank Coleman, president and CEO of Coleman Group of Companies/of Coleman Group of Companies/of Coleman Group of Companies/Humber Valley Paving;Humber Valley Paving;Humber Valley Paving;• Keith Collins, president and CEO • Keith Collins, president and CEO • Keith Collins, president and CEO of St. John’s International Airport of St. John’s International Airport of St. John’s International Airport Authority;Authority;Authority;• Nora Duke, president and CEO of • Nora Duke, president and CEO of • Nora Duke, president and CEO of Fortis Properties Corporation;Fortis Properties Corporation;Fortis Properties Corporation;• Greer Hunt, president of Hunt’s • Greer Hunt, president of Hunt’s • Greer Hunt, president of Hunt’s Transport Ltd./Hunt’s Kuka Transport;Transport Ltd./Hunt’s Kuka Transport;Transport Ltd./Hunt’s Kuka Transport;• Capt. Sidney Hynes, executive • Capt. Sidney Hynes, executive • Capt. Sidney Hynes, executive chairman of Oceanex;chairman of Oceanex;chairman of Oceanex;• Vickie Kaminski, president and CEO • Vickie Kaminski, president and CEO • Vickie Kaminski, president and CEO of Eastern Regional Health Authority;of Eastern Regional Health Authority;of Eastern Regional Health Authority;• Jamie King, president and CEO of • Jamie King, president and CEO of • Jamie King, president and CEO of Verafin Inc.;Verafin Inc.;Verafin Inc.;• Earl Ludlow, president and CEO of • Earl Ludlow, president and CEO of • Earl Ludlow, president and CEO of Newfoundland Power;Newfoundland Power;Newfoundland Power;• Charles Randell, president and CEO • Charles Randell, president and CEO • Charles Randell, president and CEO of C-Core;of C-Core;of C-Core;• Anne Squires, CEO and franchisee of • Anne Squires, CEO and franchisee of • Anne Squires, CEO and franchisee of Exit Realty on the Rock;Exit Realty on the Rock;Exit Realty on the Rock;• Ed Stratton, CEO of Big Erics and • Ed Stratton, CEO of Big Erics and • Ed Stratton, CEO of Big Erics and Terra Nova Foods;Terra Nova Foods;Terra Nova Foods;• Ann Whelan, president of Whelan • Ann Whelan, president of Whelan • Ann Whelan, president of Whelan Capital.Capital.Capital.

Top 50 Fifteen local companies – most of them our members – have been added to a prestigious annual list. Atlantic Business Magazine’s annual Top 50 CEO’s list – which awards the “most accomplished and civic-minded business leaders” – was announced in Halifax last month and this year honours some of this province’s most successful business people.

SIFE Memorial takes national title For the sixth time in seven years, our young entrepreneurs from Memorial University have again won the top prize at the National Students In Free Enterprise Championship. SIFE Memorial defeated 50 teams from universities across Canada at the national championships in Calgary, Alta. The team now advances to represent Canada at the 2012 SIFE World Cup in

Washington, D.C. in September, where U.S. Secretary of State Hillary Clinton will welcome delegates. Through 22,137 volunteer hours working on several projects including those helping military personnel, persons with disabilities, people earning a living from collecting recyclables and 10 other projects, SIFE Memorial estimates it has had an economic impact in excess of $2 million, created 47 jobs and affected the lives of 4,729 people.

MembershipINdUSTry NEWS


On the rise Commercial rents are on the rise in St. John’s. According to Cushman and WakefieldAtlantic,commercialofficespace has increased by 5.9 per cent to reach $29.11persquarefootinthefirstquarterof2012. Overall, vacancy rates are still very high with a rate of 3.7 per cent. Last year this quarter, vacancy rates were at 4.1 per cent. Now hiring Between 2001 and 2011 Atlantic Canada created nearly four times as many low-wage jobs than in high-wage industries according to APEC’s most recent report card. Low-wage jobs are those with average wages below the all-industry average wage of $40,000. In this province, the majority of the higher-wage jobs were created in the public sector – education, government, etc. Meanwhile, the oil and gas and mining booms have boosted the construction and professional services high-wage jobs by 4,850 positions.

Destination … St. John’s St. John’s businesses have been in the media a lot lately as the city continues to be a destination of choice for tourists and convention delegates. Raymond’s Restaurant, the Duke of Duckworth, Bluedrop Performance Learning and The Rooms were all recently featured as the best hotspots for business travelers in Atlantic Canada, according to Progress Magazine. Raymond’s has the best complimentary sommelier service, the Duke is the “best place for a ‘party-down, fuzzy on the details next day” drink, while The Rooms was named the best large event space. Bluedrop’s big-blue building on PrescottStreetwasdeclaredthebestoffice.Meanwhile, in the meetings and conventions section of Progress, St. John’s was named “The New Meeting Hotspot” with plenty of our membership being interviewed for thepieceabouttheinfluxofbusinesstravelhere in recent years and what the future has in store.

Finally, Canadian Business Magazine has offered a business traveller’s guide, highlighting plenty of St. John’s businesses including the Ryan Mansion, Rocket Bakery, Bacalao, Raymond’s and the Duke of Duckworth.Eat, drink, be merry Food and drink sales in this province are up – a lot. Sales for the food and beverage services are up 8.1 per cent in February of this year, over the same month last year, according to Statistics Canada. Sales boosted to $59.9 million this February compared to $55.5 million in the same month last year. This province beat the national average increase, which was 5.4 per cent over last year.Hungry? Buy Local! Did you know there are 28 local food producers on the Avalon Peninsula? Buy Local! Buy Fresh! has released a new guide, app and online resource to help you

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INdUSTry NEWSfindlocalfreshfood.Theorganizationis an initiative of the regional economic development boards of the Avalon Peninsula and can be found online at www.avalonfresh.ca Looking forward The province is hoping a $4.1 million investment in skilled trades will help close a skills gap that exists in this province. “With an expected 70,000 job openings in the next 10 years, the Provincial Government is working on innovative approaches to labour market challenges in

Newfoundland and Labrador,” said Joan Burke, Minister of Advanced Education and Skills. “Through our support today for this resolution, this government is maximizing opportunities for education and employment while providing access to the skilled innovative workforce needed to compete in the global economy.” The investment will help under-represented groups access apprenticeship opportunities through the introduction of a journeyperson mentorship program, expansion of the apprenticeship wage subsidy program

and registration of pre-apprentices in a tracking system to help them get work and eventually, journeyperson status. Apprenticeship forums were held recently at a number of locations across the province, including partners from the private sector, unions, apprentices, journeypersons, and students, graduates and staff from training institutions. The process will help guide the direction of the apprenticeship system in Newfoundland and Labrador to meet growing labour demands.

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Raymond Monnier*CLU CH.F.C. CHS

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The Canadian Association of Petroleum Producers (CAPP) represents

companies that explore for, develop and produce natural gas and crude oil throughout Canada. CAPP’s member

companies produce more than 90 per cent of Canada’s natural gas and

crude oil; associate members provide a wide range of services that support

the upstream crude oil and natural gas industry. With offices in St. John’s,

Ottawa and Calgary, CAPP’s mission is to enhance the economic sustain-

ability of the Canadian upstream and petroleum industry in a safe and

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printer Tech Solutions Inc.Mark Sheppard, CEO165A McNamara DriveParadise, NL A1L 0A7P: 709-747-5585F: [email protected]

kpmg llpGail Hamilton, Partner700 – 140 Water StreetSt. John’s, NL A1C 6H6P: 709-733-5000F: [email protected]

candy bouquetCindy Saunders, Owner216 Water StreetSt. John’s, NL A1C 1A9P: [email protected]

JET public relationsJill E. Thomas Myrick, Principal26 Iceland PlaceSt. John’s, NL A1B 0E9P: [email protected]

maersk Supply Service canadaLynn Sullivan, Finance Manager100 New Gower Street Suite 803St. John’s, NL A1C 6K3P: [email protected]

Future group of companies Inc.Craig Williams, President / CEO989 Torbay RoadTorbay, NL A1R 1A3P: 709-437-1777F: [email protected]

The orion group atlantic Madonna Stewart, Regional Manager, Eastern Canada95 LeMarchant Road, Suite 202St. John’s, NLP: [email protected]

livemore group ltd. Shawn Stratton, PresidentSuite 110, 38 Pearson StreetSt. John’s, NL A1A 3R1P: [email protected]

downhome publishing Inc.Grant Young, PresidentAddress: 43 James LaneSt. John’s, NL A1E 3H3P: 709-726-5113F: [email protected]

august & lotta StockholmBev Moore-Davis, Presdient325 Duckworth StreetSt. John’s, NLP: 709-753-3020F: [email protected]

House to Home Ted Williams, President50 Commonwealth AveMount Pearl, NL A1N 1W8P: 709-745-4663F: [email protected]

Holland Nurseries limitedJohn Frecker, Director401 Torbay RoadSt. John’s, NL A1A 5C9P: 709-726-1283F: [email protected]

cre8iv design Studio Inc.Tina Thistle, Creative Director84 Clyde AveMount Pearl, NL A1N 4S2P: 709-368-8888F: [email protected]

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Upcoming Events


JUNE EvENTS

lUNcH aNd lEarN #3 Join M5 Communications as they discuss how taking the time and resources to develop reliable social analytics practices can successfully measure and demonstrate the effectiveness of social media as part of your digital marketing investments.

lUNcH aNd lEarN SErIES This June join us for our second Lunch ‘n’ Learn series on one of the most significant growing topics – “Social Media.” There will be three individual lunchesand the topics will include: “Social Media Quick starter,” “Building a Digital Strategy,” and “Making Social Media Measurement Part of your Marketing Mix.”

lUNcH aNd lEarN #1Join Aaron Dawe from Robot Interactive & Marketing as he walks our members through a beginner session on how to get started with Social Media. He will help you take the first steps to understand how to use online marketingoptions: Facebook, LinkedIn and Twitter.

Where: St. John’s Board of Trade, Board Room, 34 Harvey Rd., 3rd FloorWhen: Tues., June 5 Time: 12:30 p.m - 2 p.m.Cost: $25+HST member discount, $35+HST non member

lUNcH aNd lEarN #2 Join Kevin McCann, vice-president of MT&L Public Relations as he shares his experiences in successful digital campaigns from start to finish. He will startwith the theoretical, but quickly move to practical and pragmatic approaches to social media. He’ll use case studies to explore the tactics of great campaigns, looking at the entire digital footprint and uncover how marketing tactics can knit together to tell a compelling story, galvanize employees and supporters, and meet objectives.

Where: St. John’s Board of Trade, Board Room, 34 Harvey Rd., 3rd FloorWhen: Wed., June 13Time: 12:30 p.m - 2 p.m.Cost: $25+HST member discount, $35+HST non member

Where: St. John’s Board of Trade, Board Room, 34 Harvey Rd., 3rd FloorWhen: Tues., June 26Time: 12:30 p.m - 2 p.m.Cost: $25+HST member discount, $35+HST non member

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Business News June 2012

Documents

Transcript of Business News June 2012